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I.

Assets Cash & Bank Accounts at Time of Bankruptcies: M&K Christine - estimated Pension & Profit sharing plans at time of Bankruptcies: M&K Property: M&K Home in Powell, WY Janelle - 1 acre Payson, UT Janelle - 152 acres, WY Personal Property: M&K Household Goods M&K clothing M&K Tools of the Trade (Karaoke, sound system, portable stereo, stands, miscellaneous show props) M&K Clothing, furniture & toys held for 3rd parties (7 children) Janelle - furniture, clothing & household linens Christine - furniture & effects Christine - clothing & jewellry Christine - pets Vehicles: M&K 95 Isuzu Trooper M&K '97 VW M&K 94 Toyota Janelle - '91 Nissan Stanza Total Assets at time of Bankruptcies II. Debt A. Secured Debt M&K 1st Mortgage on home in Powell, WY (home value $90K) M&K 2nd Mortgage on home in Powell, WY (home value $90K) M&K VW car loan (car value $5688) M&K Isuzu & Toyota car loan (car values $1500 + $2000=$3500) Janelle - '91 Stanza (car value $4995) B. Priority Claims Janelle - student loan C. Unsecured Debt (a) Medical Debt M&K Christine (b) Credit Card / Consumer Purchases M&K Janelle Christine

$35.00 $45.00 $1,900.91 $90,000.00 $4,588.00 $9,000.00 $2,671.00 $898.00 $275.00 $414.00 $225.00 $970.00 $565.00 $10.00 $1,500.00 $5,688.00 $2,000.00 $4,995.00

$105,181.87 $31,796.89 $5,688.00 $1,594.00 $3,548.00

$3,628.88

$1,179.50 $3,194.49 $43,341.37 $13,210.14 $19,189.65

(c) Collection Agencies (I will not list the same debt twice) M&K (d) Other: overdraft protection, M&K - overdraft protection Christine - student fees Christine - Installment Travellers Bank subtotal Total unsecured debt Total Debt III. Net Annual Income at time of Bankruptcy (i.e. Take home pay) M&K Janelle Christine

$29,214.66 $1,500.00 $500.00 $2,828.00 $114,157.81

$57,762.00 $4,656.00 $18,845.28

IV. Annual Expenses at time of Bankruptcy M&K Janelle Christine

$73,212.00 $4,464.00 $31,740.00

Analyis: The Browns continuously run in the red month to month and make no provision to pay their c or their taxes. They also make no monthly provisions for health or home insurance. Their current lev given their incomes, is only sustainable by continuing to file bankruptcies.

What I did and did not see in the list of expenses: M&K: Meri & Kody's mortgages were 1.5 times the vaue of the home $325 monthly for Charitable Contributions, which equals $3900 per year Charitable contributions per month exceed food budget No health insurance payments, either via work or of own accord - for anyone (Meri, Kody, Janelle or Ch Cost of operating business (karaoke equipment?) was 3.5 times income received No funds set aside monthly for property taxes & no house insurance, yet $200/month spent on cell, ph M&K are $1288 in the hole every month (expenses exceed income by $1288 monthly) M&K's monthly expenses only a monthly credit card debt instalment payment, not what they were ac M&K - some debts were listed several times over as being in collection, which inflated the amount of d

Janelle: Janelle had no money to her name when she declared bankruptcy (nothing in the bank, her purse or h Charitable contributions per month almost equal her food budget No health or renters insurance payments Janelle is the only one of the 3 filers whose monthly income exceeded expenses. She did this by runn

Christine: Christine's forms noted that a companion paid certain expenses (e.g. Rent, Utilities & Auto Insurance) Christine is listed as owning no vehicle in 2010.

$80.00 $1,900.91

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$6,028.00

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$3,628.88

$4,373.99

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$4,828.00 ###

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ake no provision to pay their credit card debt me insurance. Their current level of expenditures,

yone (Meri, Kody, Janelle or Christine) received et $200/month spent on cell, phone & cable 1288 monthly) yment, not what they were actually running up in credit card debt. I believe this is the reason so much debt wa which inflated the amount of debts owed

ing in the bank, her purse or her pockets)

xpenses. She did this by running up credit card debt and including $0 monthly credit card payments in her list

ent, Utilities & Auto Insurance)

the reason so much debt was in collections.

dit card payments in her list of monthly expenses.